Joby Aviation, Inc. (NYSE:JOBY) Receives Average Rating of "Reduce" from Brokerages

Key Points

• Broker sentiment is cautious: Joby Aviation has an average analyst rating of "Reduce" from nine covering brokerages, with a 1-year average price target of about $13.06.
• Quarterly results beat expectations: The company reported a smaller-than-expected loss of ($0.12) EPS and revenue of $24.25 million, both better than analyst estimates, though it remains deeply unprofitable.
• Insider selling has been notable: Recent filings show significant insider share sales, including CEO Joeben Bevirt selling shares in a pre-arranged transaction, which may pressure investor sentiment.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) has been assigned an average recommendation of "Reduce" from the nine brokerages that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $13.0625.

JOBY has been the topic of several analyst reports. HC Wainwright restated a "buy" rating and set a $18.00 price target on shares of Joby Aviation in a report on Thursday, March 12th. JPMorgan Chase & Co. dropped their target price on shares of Joby Aviation from $8.00 to $7.00 and set an "underweight" rating on the stock in a research note on Thursday, February 26th. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 target price on shares of Joby Aviation in a research note on Wednesday, May 6th. Weiss Ratings lowered shares of Joby Aviation from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, May 4th. Finally, Wall Street Zen upgraded shares of Joby Aviation from a "strong sell" rating to a "sell" rating in a research note on Sunday, May 10th.

Joby Aviation Stock Down 2.6%

Shares of NYSE JOBY opened at $10.37 on Friday. The stock has a market capitalization of $10.20 billion, a P/E ratio of -9.01 and a beta of 2.61. The company has a 50-day moving average price of $9.26 and a 200-day moving average price of $12.00. Joby Aviation has a 1 year low of $6.42 and a 1 year high of $20.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The firm had revenue of $24.25 million during the quarter, compared to analysts' expectations of $20.17 million. During the same period last year, the company earned ($0.11) earnings per share. On average, equities research analysts forecast that Joby Aviation will post -0.83 EPS for the current fiscal year.

Insider Activity at Joby Aviation

In related news, insider Eric Allison sold 74,844 shares of the company's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $10.00, for a total transaction of $748,440.00. Following the sale, the insider directly owned 676,008 shares in the company, valued at approximately $6,760,080. This represents a 9.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Didier Papadopoulos sold 3,394 shares of the company's stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $8.76, for a total transaction of $29,731.44. Following the sale, the insider owned 144,284 shares in the company, valued at $1,263,927.84. The trade was a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,673,295 shares of company stock worth $16,222,964 in the last ninety days. Insiders own 28.50% of the company's stock.

Institutional Trading of Joby Aviation

A number of institutional investors have recently modified their holdings of JOBY. Themes Management Co LLC increased its holdings in Joby Aviation by 97.6% during the 1st quarter. Themes Management Co LLC now owns 25,615 shares of the company's stock worth $212,000 after acquiring an additional 12,655 shares during the period. Waverly Advisors LLC increased its holdings in Joby Aviation by 50.9% during the 1st quarter. Waverly Advisors LLC now owns 19,178 shares of the company's stock worth $158,000 after acquiring an additional 6,468 shares during the period. Entropy Technologies LP bought a new position in shares of Joby Aviation in the 1st quarter worth $848,000. Renaissance Technologies LLC increased its holdings in shares of Joby Aviation by 194.5% in the 1st quarter. Renaissance Technologies LLC now owns 4,005,200 shares of the company's stock worth $33,083,000 after buying an additional 2,645,200 shares during the last quarter. Finally, Bank of Nova Scotia bought a new position in shares of Joby Aviation in the 1st quarter worth $6,915,000. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Joby Aviation

Here are the key news stories impacting Joby Aviation this week:

• Positive Sentiment: Joby continues to attract attention as a leading eVTOL name, with recent coverage highlighting its potential to benefit from the growth of advanced air mobility and comparisons that frame it as one of the stronger players in the sector.
• Neutral Sentiment: News that Joby is planning New York eVTOL demonstrations and discussing progress under the FAA’s eIPP suggests the company is still pushing regulatory and public-awareness efforts that could support long-term adoption, but these developments are not immediate revenue catalysts. Article Title Article Title
• Negative Sentiment: CEO Joeben Bevirt sold 421,019 shares in a pre-arranged 10b5-1 transaction, a move that can weigh on sentiment even though it was disclosed as part of a planned trading arrangement. Article Title
• Negative Sentiment: Some recent commentary compares Joby with Archer and suggests the competition in the eVTOL race is still highly uncertain, reinforcing concerns that execution and regulatory timing will be key to future upside. Article Title

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company's core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby's eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company's flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.

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